Comment 25792

By markb (anonymous) | Posted July 02, 2008 at 13:42:43

As owner of the building, the city will need to assume capital maintenance expenses which are not currently in the city's expense list for the leased space this building will (theoretically) replace. This is estimated at $500,000 annually, and is a net-new expenditure.

My $800,000 debt servicing is based on the city's estimate of accumulated interest on the purchase loan over a 20-year period.

The entire exercise borders on the ridiculous anyway. A 'us vs. them'-style scorecard attempts to perpetuate civic divisions based on demographics. Better to try to heal the rifts in the city than expand upon them. The city would be so much further ahead if it weren't constantly embroiled in divisive 'tit-for-tat' politics like this.

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